Interest u/s. 234b
This query is : Resolved
Nikul Vasani
(Querist)
30 December 2014
A assessee is taking deduction u/s. 35(2AB) for in house R & D of RS. 15,00,000/-, and he file income tax return of A.Y. 2012-13 before due date.
The Balance sheet and P&L of R & D devision was submitted to Autho.(i.e. DSIR), but DSIR send approval certificate (i.e. Form 3CM & 3CL) to the assessee with approved expenditure of RS. 11,00,000/- for which eligible for 35(2AB).
So, please guide me that whether such assessee is liable to pay interest u/s 234B for income tax payable due to disallowance of Expenditure by DSIR?
Thanx...
The Balance sheet and P&L of R & D devision was submitted to Autho.(i.e. DSIR), but DSIR send approval certificate (i.e. Form 3CM & 3CL) to the assessee with approved expenditure of RS. 11,00,000/- for which eligible for 35(2AB).
So, please guide me that whether such assessee is liable to pay interest u/s 234B for income tax payable due to disallowance of Expenditure by DSIR?
Thanx...
Rupesh Jain
(Expert)
30 December 2014
yes you have to pay the tax and intt on tax amount.
Nikul Vasani
(Querist)
30 December 2014
Thanx Sir
But tell me for what period he liable pay Interest as mentioned above
But tell me for what period he liable pay Interest as mentioned above
01 August 2024
https://docs.google.com/document/d/1MsR2YWf3wObSShQnpHdB99u8edjeMyb5xnJYafCWr5s/edit?usp=sharing
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